23andMe Offers DNA Data of Millions to Bidders Again
By Netvora Tech News
In a surprise move, 23andMe, the bankrupt DNA testing company, has put the DNA data of millions of people back up for auction. This comes after a previous auction in January, which saw the data sold to pharmaceutical company Regeneron for $265 million. However, the former CEO of 23andMe, Anne Wojcicki, contested the outcome and a new agreement has been reached.
New Auction Terms
As part of the new auction, Wojcicki will team up with a California-based research institute to make an opening bid of $305 million. Regeneron can then make a counterbid of at least $315 million. If Wojcicki and the research institute make a subsequent bid, Regeneron will have the opportunity to make one final counterbid.
About 23andMe
23andMe allows users to test their DNA to determine their ancestry and connect with distant relatives. The company also offers health-related testing services. However, in 2023, the company suffered a sensitive data breach, in which the ancestry data of 6.9 million users was stolen. In March, the company filed for bankruptcy, citing insufficient revenue.
Background
23andMe had over 15 million customers, with 550,000 of them having a subscription to the company's two primary services. The company's DNA testing platform was a significant source of revenue, but the data breach and subsequent financial struggles led to its downfall. The company's online "telehealth" service, Lemonaid Health, was also affected by the bankruptcy.
Conclusion
The auction of 23andMe's DNA data is a significant development in the company's history. The outcome will determine the future of the data and the companies that will have access to it. The controversy surrounding the data breach and the company's financial struggles has raised questions about the handling of sensitive personal data and the consequences of its misuse.
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